Wealthy hospitals have a cushion to weather coronavirus crisis that safety-net facilities don’t

Cancellations of nonessential surgeries come with the coronavirus patients


Inova Health System, located  in some of the wealthiest suburbs of Washington, D.C., and Truman Medical Centers, a safety-net hospital in downtown Kansas City, Missouri, are confronting the same financial issues, according to an article on the Kaiser Health News website.

But Truman has less than a month’s worth of cash reserves  while Inova has enough money to operate for at least 21 months.

“At the end of the day, not all hospitals are created equal,” Charlie Shields, Truman’s president and CEO, said in the article. “If you were sitting on a year of … cash on hand, that would not be as challenging, but most safety-net hospitals are south of 25 days, and we’re probably around 10. How do you manage through that?”

However,  Dr. J. Stephen Jones, Inova’s president and CEO, said, “Our finances are a mess at this point,” with the system postponing non-urgent treatments and eliminating 427 administration and management positions. “This is an existential threat to every health care organization, no matter how strong they come into it,” said Jones, who cut his own salary by 25%.

Read the article.



May 14, 2020


Topic Area: Maintenance and Operations


Recent Posts

How Efficiency Checklists Help Hospitals Save Energy, Water and Money

Keith Edgerton explains how a simple, systematic tool can help healthcare facilities identify savings, support sustainability goals and reinvest in long-term decarbonization.


Intermountain Healthcare Receives $50M Gift for Standalone Children's Hospital

To honor the family's gift, Intermountain Health will name the inpatient tower the Larry & Heidi Canarelli Inpatient Tower.


Arrowhead Regional Medical Center Reports Data Breach via Third Party

There is currently no evidence that the information has been viewed by any third-party or of any misuse of the impacted information as a result of this incident.


Safety Synergy: Infection Prevention That Protects Patients and Workers

For environmental services managers, the central message is that cleaning and disinfection should be governed through an integrated systems approach.


Prefabricated Wall Panels Speed UCF Lake Nona Medical Center Construction

StoPanel systems helped the project meet Florida’s wind-load and impact requirements while supporting a fast, safe exterior installation.


 
 


FREE Newsletter Signup Form

News & Updates | Webcast Alerts
Building Technologies | & More!

 
 
 


All fields are required. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.